Industrial producers are more worried about a deficit of electricity than natural gas, a survey published Tuesday by the bank, Credit Suisse showed. Half of the firms polled are preparing for power outages while only a third are bracing for a lack of gas.
Amid the rising energy risk, a purchasing managers’ index among Swiss manufacturers dropped 2.2 points to 54.9 in October. That’s below the 55.9 reading forecast by economists but above the 50 threshold that separates growth from contraction.
The most popular step companies are taking to secure energy supplies is curbing consumption, followed by acquiring emergency generators or batteries. Other measures include installing solar panels.
Meanwhile, Credit Suisse chairman Axel Lehmann says the planned capital increase will make the lender “rock solid”, while dismissing rumours of a takeover.
In an interview with Bloomberg TV in Hong Kong, he said that the bank wanted to stay independent.
The bank aims to become a wealth management-centric franchise, centered around entrepreneurs, wealthy clients, the chairman said, adding that it wants to grow in Latin America, Asia Pacific and Middle East markets.
Swiss money laundering office registers record number of reports
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The Money Laundering Reporting Office Switzerland (MROS) registered a record number of reports of suspicious activity last year.
Two teens accused of planning terror attack released from custody
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The Schaffhausen judiciary has released the two teenagers from custody who allegedly planned bomb attacks in Switzerland.
OECD: Sluggish economic activity slowing growth in Switzerland
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Sluggish economic activity at the start of the year is weighing on growth in Switzerland, with GDP expected to fall to 1.1% in 2024.
Report finds mistakes which led to Swiss government data breach
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Mistakes were made by both the government and internet company Xplain in the case of a criminal cyber-attack on the Bern-based IT business.
Swiss government wants better gender balance in federal administration
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New Swiss government personnel management targets say there must be even more female managers in the federal administration.
Swiss national science foundation funded over 5,000 projects in 2023
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In 2023, the Swiss National Science Foundation (SNSF) provided a total of CHF961 million worth of funding towards research projects.
Switzerland invites 160 delegations to June Ukraine peace talks
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Russia is currently not among the delegations invited to talks aimed at helping bring about peace in the conflict between Moscow and Ukraine.
Survey: air travel most popular way to go on holidays for Swiss
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Despite the climate crisis, flying is the most popular mode of transport for private travel – particularly among young, urban and high-income travellers.
Swiss government to use phone data to identify asylum seekers
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From April 2025, authorities plan to be able to analyse data from mobile phones, computers and other data carriers to identify asylum seekers.
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The energy crisis is about to make your Swiss ski holiday more expensive
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Swiss hotels, holiday apartments and ski passes look set to be more expensive this winter, largely due higher energy prices.
Report: Switzerland should get through winter without power restrictions
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While Switzerland still faces an energy crunch, it should get through winter with enough power, a new study reportedly shows.
Energy crisis ‘will last many years’, says economics minister
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Guy Parmelin says it is important not only to think about the winter, but to do everything to ensure that Switzerland produces more energy.
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